Farmer sentiment weakened sharply in June after two months of improvement, according to the Purdue University/CME Group Ag Economy Barometer. The overall barometer dropped 12 points to 146, driven mainly by a steeper decline in producers’ future outlook. The Index of Future Expectations fell 18 points to 146. The percentage of producers expecting declining exports also rose. The Current Conditions Index slipped 2 points to 144. Concerns about U.S. agricultural exports were a leading factor in the weaker long-term sentiment, with only 41% of farmers expecting export growth over the next five years — down from 52% in May. Farmers remain concerned that U.S. tariff policies could negatively impact their farms’ income, but fewer producers said they expected a negative or very negative impact on income than when tariff policies were the focus of attention in March and April.
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